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Can YOU make money as a professional trader - Redux

  • #41
  • May 5, 2018 9:38am May 5, 2018 9:38am
Quoting fxproUSA
{quote} ROFL hilarious ... i needed a good laugh .... so typical of newbie traders .... my sharp ratio os 3.9 and 80 % success rate !!! #1 rule in trading as a professional ... drill this into your brain EVERY DAY! STOP THINKING AND FOLLOW YOUR DAMN INDICATORS, PERIOD! ego maniac you say lol i can prove it ... i sheer sheeple everyday and i can prove it !!! are u " in the game" for the thrill of the kill, to impress your friends etc .or to make $$$
You've got to be kidding right, lool this bloke said follow your damn indicators, you mean like stochastic perhaps.
Newbies, professionals or whatever you wanna call yourself, just remember that trading is emotions, greed and fear. Use them to your advantage.
Read in between the price!!!
  • #42
  • May 5, 2018 12:00pm May 5, 2018 12:00pm
This pro trader tells you how much you need to be pro.

Inserted Video
  • #43
  • May 6, 2018 1:08am May 6, 2018 1:08am
Frist of I would like thanks to newbegger for start this useful thread.

90% of traders lose money , largely due to lack of planning , traning ,discipline, and having poor money managemant rules.
if you hate to lose or are a super perfectionist , you'll also probably have a hard time adjusting to trading because all traders lose a trade at some point or another.
skilled traders can and do make money in this field. it takes lots and lots of practices and experience to master.
  • #44
  • May 13, 2018 3:47pm May 13, 2018 3:47pm
Quoting calebfx
{quote} You've got to be kidding right, lool this bloke said follow your damn indicators, you mean like stochastic perhaps. Newbies, professionals or whatever you wanna call yourself, just remember that trading is emotions, greed and fear. Use them to your advantage.
YOUR reply is EXACTLY why i as a professional make $$$ and you dont ...u blame it on everything else instead of taking responsibility for your success ... YES those things WILL sabotage you IF YOU LET THEM ... if u did as i said and followed your plan/indicators ( if u even have one ) and take your damn emotions OUT of the equation you WILL win ... like my image shows ... lol
https://www.screencast.com/t/Sq8mWFJprjW

the old adage STILL applies ... u get what u pay for ....
FXSLAYER
  • #45
  • May 13, 2018 4:32pm May 13, 2018 4:32pm
You should change the title, its a little " misleading " persay grin ... haha ... pros make $$$ undisciplined excuse making newbies dont so YES pros DO make $$$ consistently thats why they are called pros in the first place dooooooooooooooh ! lol like pro golfers, nascar drive, football player s...need i say more
FXSLAYER
  • #46
  • May 14, 2018 4:45am May 14, 2018 4:45am
Yes possible. But the question can you be a professional. Unrealistic expectation added with possible least time cause a lot of problems. Being professional is not that easy. Most people behave unprofessionally. Within few days or months they want to make their capital double in possible least time. If you can make yourself professional you can make money.
  • #47
  • May 15, 2018 9:03am May 15, 2018 9:03am
Rule # 5 Never believe you know exactly the right place to enter the market or where price is going next.
Scale into your trades. Start your original entry small and add to trades, in both directions, when they are losing and when they are winning.

I can already hear the critics saying "Never add to a loser". It's been my experience that I rarely get the best price even when I am right. And I never know if I am wrong so I place small bets at first then watch price action as a player not just observers. I don't put on my entire position at once.

If your original position shows a profit, and if the reason you took the position are still valid, add to it if you have not yet reached your target.

If it does not show profit, you need to take an impartial look at it. If conditions have changed, close the position. If the reason you bought are still valid and it is going against you can add to it as your timing was off for the original entry. Most important, you must be impartial when adding to a loser. Have the same attitude like you had before you put on the position before you evaluate for adding to a loser.
Ecclesiastes 1:9
  • #48
  • May 16, 2018 3:38pm May 16, 2018 3:38pm
Rule # 6 Don't bring your ego with you when you go to work.

This is the most important rule of trading. I have found this to be the best indicator for who will be part of the 5% to 10% who trade their own account for a living. Arrogance, pride, boastfulness, and/or need to be right are account killers. When I see someone post “I made 637 pips today” or “I haven't had a losing trade all month” I can tell they are in the 90% club.

The only “traders” who can ignore this rule are the prop traders and/or systems sellers. This group are not relying on income from trading, just collecting commissions on sales. They have to project the “I am the greatest” image to keep clients coming in.
Ecclesiastes 1:9
  • #49
  • May 16, 2018 7:04pm May 16, 2018 7:04pm
When I see someone post “I made 637 pips today” or “I haven't had a losing trade all month” I can tell they are in the 90% club. The only “traders” who can ignore this rule are the prop traders and/or systems sellers. This group are not relying on income from trading, just collecting commissions on sales. They have to project the “I am the greatest” image to keep clients coming in


i assume your making these confirmed " in your own mind " statements based on something silly like ummmmmmmmmmm facts

LOL ... you amateurs continue to amuse me ...its hilarious .... just becuz your incapable of being a consistent traders for various reasons that has EVERYTHING TO DO WITH YOU !!!! doesnt mean no one else is ...funny you should mention 600 plus pips ..... you mean like this lol LOSER!!!

Attached Image (click to enlarge)
Click to Enlarge Name: 6e 660 pips.png Size: 119 KB


OR if thats not good enuf for you try this on for size .... its ONLY ...400 plus .... bummer

if you'd like to take your ego out of the equation and find out how real pros do it ...and eat sheeple for lunch every day contact me
Attached Image (click to enlarge)
Click to Enlarge Name: 485 6e.png Size: 115 KB
FXSLAYER
  • #50
  • May 16, 2018 9:14pm May 16, 2018 9:14pm
Quoting fxproUSA
When I see someone post “I made 637 pips today” or “I haven't had a losing trade all month” I can tell they are in the 90% club. The only “traders” who can ignore this rule are the prop traders and/or systems sellers. This group are not relying on income from trading, just collecting commissions on sales. They have to project the “I am the greatest” image to keep clients coming in i assume your making these confirmed " in your own mind " statements based on something silly like ummmmmmmmmmm facts LOL ... you amateurs continue to amuse me...
You give a great example of what I was talking about.

So... Are you trying to make money selling your sure fire trading system? Or are you looking to try to convince them to deposit their funds and let you manage their money, minus the fees? After they sign the agreement that says they may (meaning will) lose all of their money invested.

BTW, I do not want this thread moved to commercial section so and some point I will have to put an end to your advertisements.
Ecclesiastes 1:9
  • #51
  • May 16, 2018 9:42pm May 16, 2018 9:42pm
join to read
we don't predict, we only ride
  • #52
  • Edited 3:06pm May 17, 2018 2:56pm | Edited 3:06pm
When you are just starting out in the trading jungle, know that their are predators hiding in bushes waiting to grab your money. There lure is using the fear and greed emotions by trying to sell you the "easy money" solution.

fxproUSA sent me an insulting private message after I ignored his posts so I am going to expose his misdirect.

His profile - fxproUSA (implied United States of America)
His trading location - Canada

Attached Image (click to enlarge)
Click to Enlarge Name: fxproUSA Canada.png Size: 199 KB


I don't know if his bedazzler works or does not work but I know he is not what he pretends to be. I highly doubt he is a successful trader and know his sales tactics are very ineffective, never insult the customer.

Be wary of anyone trying to sell indicators or signal services. Think about it. If their bedazzler actually worked, they would be making a living with it and not having the hustle the product or services to someone else.

What has been will be again,
what has been done will be done again;
there is nothing new under the sun.
Ecclesiastes 1:9
  • #53
  • May 17, 2018 3:27pm May 17, 2018 3:27pm
Is anyone getting an idea what (or better yet "where") the holy grail is?
Ecclesiastes 1:9
  • #54
  • May 17, 2018 3:40pm May 17, 2018 3:40pm
Rule # 7 Don't trade when you are not in top physical AND mental health.

Have you ever seen some post something like this?
-- I had a lot of losing trades last week because my (family member) was in the hospital and I was not concentrating on my trades.

Or
-- I was sick with the flu last week and had real bad draw down in my account because I was not following my system.
-----------------------------
Trading is a competition, just like sporting events. Even if you are 100% you can still lose the race to someone better in sports. Try beating the best of the best when you are not 100% in trading. What are you chances?
Ecclesiastes 1:9
  • #55
  • May 20, 2018 9:48am May 20, 2018 9:48am
Great post, this is exactly what I have in mind. Been demo trading for some time now and been reading a lot.

With proper psychology, money management and discipline I honestly feel that one should be able to make money in the fx market. But, often you read that people losing money.

My take on this;
a. YES You can REALLY make money if we target 1 to 2% growth weekly. compounding this is big
b. Even if you have a good strategy, the broker doesn't let you make money beyond a certain successful period. This is my suspicion only

I have a strong feeling on point B and hope someone can give a real live experience on this.
A new journey in life ...
  • #56
  • May 20, 2018 12:27pm May 20, 2018 12:27pm
Quoting tincog
Great post, this is exactly what I have in mind. Been demo trading for some time now and been reading a lot. With proper psychology, money management and discipline I honestly feel that one should be able to make money in the fx market. But, often you read that people losing money. My take on this; a. YES You can REALLY make money if we target 1 to 2% growth weekly. compounding this is big b. Even if you have a good strategy, the broker doesn't let you make money beyond a certain successful period. This is my suspicion only I have a strong feeling...
Agree on a.
On b: if your broker does make money from commision, i cannot see why he would not let you make money.
He would be stupid not to.. else he would loose a client if he did.
On the other hand, there are some very advanced algorithms in the market if you ask me, and it could be that when you start to make some money you will be spotted and reverse engineered in such a way that these algorithms take away your edge. (algorithms or advanced AI)
I have seen a succesfull edge disappear 6 months after i started trading it, but that was in a tiny market.
In forex you would have to be very succesfull to be spotted i guess.
Persistence will get it. Consistency will keep it.
  • #57
  • May 20, 2018 8:42pm May 20, 2018 8:42pm
Quoting Chake
{quote} Agree on a. On b: if your broker does make money from commision, i cannot see why he would not let you make money. He would be stupid not to.. else he would loose a client if he did. On the other hand, there are some very advanced algorithms in the market if you ask me, and it could be that when you start to make some money you will be spotted and reverse engineered in such a way that these algorithms take away your edge. (algorithms or advanced AI) I have seen a succesfull edge disappear 6 months after i started trading it, but that was...
Thanks Chake
Given your experience of over 10 years I'm sure you have much better idea. This gives me confidence.
I still have to work on my MM skills so I wont over trade and be disciplined.

The other aspect is to find the right session to trade based on the style that I'm focusing on, well all these takes time and practice I suppose. No hurry will put my time on this.
A new journey in life ...
  • #58
  • May 20, 2018 11:08pm May 20, 2018 11:08pm
Quoting Chake
{quote} Agree on a. On b: if your broker does make money from commision, i cannot see why he would not let you make money. He would be stupid not to.. else he would loose a client if he did. On the other hand, there are some very advanced algorithms in the market if you ask me, and it could be that when you start to make some money you will be spotted and reverse engineered in such a way that these algorithms take away your edge. (algorithms or advanced AI) I have seen a succesfull edge disappear 6 months after i started trading it, but that was...
Chake,

"On the other hand, there are some very advanced algorithms in the market if you ask me, and it could be that when you start to make some money you will be spotted and reverse engineered in such a way that these algorithms take away your edge. (algorithms or advanced AI)
I have seen a succesfull edge disappear 6 months after i started trading it, but that was in a tiny market."

Could you please elaborate more on your experience when you get the time.
  • #59
  • May 21, 2018 4:33am May 21, 2018 4:33am
Quoting Kenostika
Nice thread.Honestly,i feel the guys making money do not show themselves or sell signals.
No doubt on that. Guys who are successful are busy and quite. So, when you see someone sells courses, EA, indicators etc.. try to get the essence of that pitch.. dont buy in.

Hate when someone shows an expensive car, private jet in their ad.. can never trust that person.

this explains why the failure rate is high in this business.
A new journey in life ...
  • #60
  • May 21, 2018 6:02am May 21, 2018 6:02am
Quoting aaven
{quote} Chake, "On the other hand, there are some very advanced algorithms in the market if you ask me, and it could be that when you start to make some money you will be spotted and reverse engineered in such a way that these algorithms take away your edge. (algorithms or advanced AI) I have seen a succesfull edge disappear 6 months after i started trading it, but that was in a tiny market." Could you please elaborate more on your experience when you get the time.
The desire for constant action irrespective of underlying conditions is the cause of many losses among speculators. Basically everything works some of the time, you cannot make money consistently with a strategy trading in all market conditions. If you don't know how to analyse the condition of the market, forget about being a consistent winner. Your strategy will be on and off.
When you see it, BET big.
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